Using data from the StockBrokers.com 2017 Broker Rankings
, we can compare Merrill Edge Guided Investing vs Wealthfront to determine which broker is better for you. Our database includes thousands of data points on everything from research to trading tools. Let's take a closer look at Merrill Edge Guided Investing and Wealthfront.
First we will break down the commission charges of both brokers for placing stock and options trades. Merrill Edge Guided Investing and Wealthfront both cost $0 per trade. With options, the base fees charged are $0 (Merrill Edge Guided Investing) and $-1 (Wealthfront). Contracts are pricier at Merrill Edge Guided Investing, costing $0 versus $-1 at Wealthfront, a difference of $1.00 per contract. Note that flat rate trading is not available everywhere though, so it is important to read the complete commission notes for each broker to know the full breakdown (go to any stock broker review
page, then scroll down to the "Commission Notes" section).
Trading fees aside, having access to trade what you want is also an important consideration. Neither Merrill Edge Guided Investing nor Wealthfront support Stock Trading, Options Trading, Mutual Funds, Forex Trading and Futures Trading. As far as mutual funds go, both brokers offer the same number, . And, commission free ETFs deserve a mention, which is a wash in this comparison as both Merrill Edge Guided Investing and Wealthfront offer funds.
Finally, by looking at the most popular features and offerings of each broker, we can really see the differences between the two. Merrill Edge Guided Investing nor Wealthfront has virtual trading. For mobile trading, Merrill Edge Guided Investing and Wealthfront both do not offer the iPhone App, iPad App and Android App. Online banking is also used by many clients, and multiple brokerages provide these services. Neither Merrill Edge Guided Investing nor Wealthfront offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans. All things considered, when it comes to platform tools, research, and trading via smartphone, Both Merrill Edge Guided Investing and Wealthfront found themselves without awards for Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading in 2014.
Overall, both Merrill Edge Guided Investing and Wealthfront are rated 4.00 stars.